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Once a year, the Singaporean government announces its budget for the coming fiscal year. For the year 2019, this will be done on February 18. The 2019 Budget Statement will be delivered by Finance Minister Heng Swee Keat. Although the budget has yet to be announced, the government has been preparing for the day for […]

Singapore Transfer Pricing Transfer pricing is a concept in taxation and accounting that refers to the methods and rules for setting the prices of goods, services, and intangibles within enterprises which have the same control or ownership. Examples of such enterprises include branches and head offices. About 60% to 70% of all international trade takes […]

A certificate of residence (COR) is a letter certifying that its beneficiary is subject to tax in a certain country. It specifies that the beneficiary is a tax resident of that country and is to be taxed as such. In Singapore, both individuals and companies can be eligible for certificates of residence. Certificate of […]

Many countries around the world have a goods and services tax (GST). GST is a multi-stage tax on domestic consumption for which the final consumer receives the tax burden. A GST-registered person must charge GST for goods sold or services provided and pay GST for anything used in the person’s business. The former is known […]

Singapore Personal Income Tax Overview Singapore personal income tax is also one of the lowest in the world. The Year of Assessment starts from 1 Jan to 31 Dec in each calendar year and income is assessed on a preceding year basis. Important factors for Singapore income tax include: Personal income tax is imposed only […]

About Singapore Tax Every country’s tax system is set up to benefit the country by supplying it with money to be used for the public good. Each of these systems has its own unique qualities, and the same is true of Singapore’s. In the 2016-17 fiscal year, the Singaporean government spent the majority of tax […]

Recently, a company in the manufacturing and construction industry made headlines when it was fined by the Inland Revenue Authority of Singapore for tax evasion. The company – Positive Engineering Pte Ltd – was deemed to have committed the crime of not reporting income or profits on some of its business dealings and sales during […]

Find out more about Personal Income Taxation in Singapore in the following links provided. Here we have provided you with necessary resources to know all the information about personal income taxes in Singapore. Need Tax advice or simply want to learn more. Let us help you with your Taxation needs. Do call us at + (65) […]

Find out more about Corporate Taxation in Singapore in the following links provided. Here we have provided you with necessary resources to know all the information about Business taxes in Singapore. Corporate Tax in Singapore – Detailed information about the Company Taxes in Singapore. Singapore Company Taxable Income – Find out the types of income […]